Tax Update Blog: Permalink

KPMG SETTMENT: $456,000,000 / 1600 = $285,000

August 27, 2005

The New York Times reports today that KPMG has agreed to settle tax crime charges with the Justice Department. The report says that KPMG will have to pay $456 million in fines and accept an outside overseer to avoid indictment. That works out to about $285,000 per partner for the 1,600-partner firm.